Immediate Report

24 Jan, 2022

 

Ramat Gan, January 24, 2022
 
 
To                                                                           To
The Securities Authority                                The Tel Aviv Stock Exchange
www.isa.gov.il                                                  www.tase.co.il
 
 
 
 
Re: Immediate Report
 
 
The company respectfully reports that, shortly before the drafting of the company’s financial statements as of December 31, 2021, indications began to accumulate that the company is expected to record, for the fourth quarter of 2021, profits from real estate fair value adjustment (hereinafter: “Revaluation Profits”), at a scope of over NIS 700 million, before the effect of deferred taxes.
 
According to the indications obtained, the Revaluation Profits arise partly from appreciation of real property for development owned by the company, partly from appreciation of construction rights in real property in which the company promotes plans by virtue of Plan OP/5000 and partly from a certain decrease in the capitalization rate in some of the company’s assets.
 
It is clarified that the above information is Prospective Information, within the meaning of such term in the Securities Law, 5728-1968, and is considered a mere initial estimate based on indications accumulated at the company, as aforesaid, shortly before the drafting of the as-yet-unaudited financial statements; therefore, the data set forth above may be subject to material changes.
 
The Company's audited annual financial statements as of December 31, 2021 are expected to be published during the second week of March 2022.
         Respectfully,
 
Amot Investments Ltd.
 
 
 
 
Signed by:
Shimon Abudraham, CEO
and Judith Zynger, Deputy CEO and CFO